The following investment objectives regarding the deposit, investment and management of City funds are to be interpreted prospectively only so that any determination of compliance with the provisions of Chapter 192 of the Toledo Municipal Code shall be made as of the date on which the action being reviewed was taken.
(a) Recognizing that the primary cash management objective of the City is the preservation and protection of City funds, through its investment activities, the City will strive to achieve a reasonable financial return on its investment portfolio while at the same time assuming only a low level of risk.
(b) The City will strive to invest daily all of its available cash.
(c) The City, under the terms of Chapter 192 of the Toledo Municipal Code, establishes quality standards for its investment portfolio and noninterest bearing demand deposits and for the depositories, custodians, and securities dealers with which it will do business.
(d) The City will maintain a diversified investment portfolio.
(e) The City's investment portfolio will remain sufficiently liquid to enable the City to meet anticipated operating requirements.
(f) The City will seek to secure a full range of banking services while minimizing the cost of such banking services to the City.
(Ord. 366-86. Passed 5-20-86.)